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Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
 LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall of gas flows to Europe from Russia, resulting in whipsaw patterns in gas prices in the EU/US.
The EU/US Taskforce to reduce Europe’s dependence on Russian gas held a meeting on June 14th, planning further US LNG exports to the EU, amidst a flurry of commercial activity due to the recent fire at the Freeport LNG export terminal in Texas, which initiated on the 8th of June. Officials said, during the previous week, that damage from the fire at its Texas plant would keep it fully offline until September with only partial operation through year-end. Following the news of the extended shutdown, natural gas prices slumped in the United States and soared in Europe.
The closure came as pipeline supplies from Europe’s top providers are also capped. For instance, key facilities in Norway have been undergoing annual maintenance, while Russia’s supplies are below capacity after several European buyers were cut off for refusing to meet Moscow’s demands to be ultimately paid in rubles for its pipeline fuel. Russian gas supply to Europe via the Nord Stream 1 pipeline fell further on June 16th, and Moscow said more delays in repairs could lead to suspending all flows, putting a brake on Europe’s race to refill its gas inventories. Russia clearly steps up the use of energy as a weapon, prompting Germany to accuse Kremlin of trying to drive up prices. There is a very real probability that European conventional storage will start the new withdrawal period with low stocks again, indicating tightness in LNG and gas markets lasts well into 2023.
More specifically TTF closed at $84.400MMBtu on June 1st, but following the fire news, it marked at climbed to $91.550MMBtu intraweek. Last week it was traded up to $148.745 MMBtu on June 16th, marking an intamonth high, after the cut in gas flows from Nord Stream 1 pipeline.
Key underlying drivers in bringing LNG prices together are weak demand in North Asia, the world's main consuming region, amidst the latest lockdown in China, as well as strong demand in Europe due to the policy pivot towards LNG and away from dependence on Russian pipeline gas. The wave of new supply additions to the global LNG market seen during 2015-2020 is slowing down considerably and considering minimal growth during 2020 and 2021, supply seems to be outstripped by demand. Supply will most likely remain curbed, while Gazprom’s CEO is warning that there is no solution at the moment for issues with gas turbines, essential for the pipeline’s functioning. That said, refilling of storage tanks for the winter when demand typically peaks is threatened. With European gas supplies being already squeezed and on the back of a dearth of gas supplies for the coming winter, a return to coal now seems the only viable option for EU countries.
While gas demand in China will remain the engine of global LNG growth, disruptions in new LNG production out of the US which was set out to be the key to global balance over 2022, form the main market indicators which are pointing in the same direction and they are, undoubtedly, signaling a supply/demand imbalance that will continue to nibble sentiment in the short term.
By Chara Georgousi,
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
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- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
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